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[Politico] How Democrats’ Drug Price Negotiations Would Work

Politico recently published an article on the Inflation Reduction Act and Medicare negotiating for lower drug prices, featuring insight from Rena Conti, Associate Professor of Markets, Public Policy, and Law.

Rena Conti

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August 10, 2022

Politico recently published an article on the Inflation Reduction Act and Medicare negotiating for lower drug prices, featuring insight from Rena Conti, Associate Professor of Markets, Public Policy, and Law.

While pharmaceutical companies argue that the bill would decrease their ability to bring new medicines and treatments to the market, others argue Medicare negotiation will have minimal effect on the creation of new medicines. Rena draws this conclusion based on the Congressional Budget Office’s claim that only 15 out of 1,300 drugs will be reduced in the next 30 years.

“But if leaving the table garners no significant penalty, the industry will have the leverage.”

The bill appears likely to pass, with a vote in the House of Representatives all that remains before it is sent over to President Biden for his signature.

Rena M. Conti is an Associate Professor at the Boston University Questrom School of Business. From 2006 through June 2018, Professor Conti was an Associate Professor of Health Economics and Policy at the University of Chicago Medical School and the Harris School of Public Policy. She is a health economist and her research focuses on the organization, financing and regulation of medical care. She has written extensively on the pricing, demand and supply of prescription drugs.

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